The federal government is considering changes to scale back negative gearing and capital gains tax concessions, according to a new report. Follow live updates.
The federal government is considering changes to scale back negative gearing and capital gains tax concessions that could have a huge impact on the federal election, according to The Sydney Morning Herald. The Albanese government has asked treasury for expert advice on the possible changes, including a request for modelling on negative gearing that could canvass changes to the concessions on capital gains tax, according to an unnamed Labor source from The Herald.
A second source confirmed negative gearing changes were under consideration but Labor could walk away from any police changes. It comes after years of dispute over billions of dollars in annual tax benefits. The Greens demand an end to tax breaks but the Coalition warns it could hurt investors. Treasurer Jim Chalmers flagged a “public conversation” about the sustainability of Australia’s current fiscal settings, including $250 billion of annual tax concessions, in April.
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